Russian firm A1 free to move on Quinn's former empire

This was a huge legal hurdle preventing A1 taking back control of the assets, which include Moscow's $150m Kutuzoff Tower and about nine other assets, including land, DIY stores and business parks.

A1, which the Irish embassy in Moscow has described as "aggressive" but within the law, has already taken control of the second most valuable asset in the former Quinn portfolio, a department store in Kiev, Ukraine.

The Russians, led by Alexey Kousmichoff, the world's 138th richest man with an estimated fortune of $8.2bn, can now move to take back control of the Russian assets using the receivership powers granted in Northern Ireland.

A1 is understood to be planning to purse a rent roll of more than $30m in relation to the various properties which have gone missing.

They are already combing through the accounts of various companies which collected these rents to determine where the money has gone, but have not yet got access to all the relevant companies, files and bank accounts.

Under the terms of the deal between IBRC (which is now in liquidation) and A1, the Russian oligarchs have been instructed to collect material detailing how, when and by whom the various assets were transferred out of the control of Anglo.

This could be used in future litigation by the bank against the Quinn family or others.

Next week the Quinn family will seek an order in the High Court instructing the former Anglo Irish Bank not to sell any of the assets they once owned until after a decision has been made in their court case against Anglo.

In this case the Quinn's claim that Anglo got control of their assets by lending them money in an allegedly illegal manner. Among the assets the Quinn family want to stop being sold are their Irish hotels, their overseas property investment group and stakes in Quinn Insurance and Quinn Manufacturing.